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https://x.com/i/lists/1669153613199835138?t=R0mCicxs7zfJE_yOAek4gQ&s=09
Stock Analysis Compilation
Diamond Hill on Starbucks $SBUX US
Thesis: Starbucks’ global scale, resilient earnings growth, and undervaluation in China make it an attractive investment opportunity.
(Extract from their Q2 letter) https://t.co/BvRMc1fVUN
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Librarian Capital
"Spirax: Focus on Self-Help, Lower for Longer After Investor Day?"
The market has reacted badly to last week’s $SPX investor day, but we think the pessimism is overblown
https://t.co/pk4drk4hFr https://t.co/gAZQRC9Yz0
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Librarian Capital
A stock crashing no more proof of someone on Fintwit being a promoter than a patient dying is proof of a doctor not being medically trained
The work is hard; bad things happen
Instead of outcomes, measure quality of the work
That's not to say Fintwit doesn't have many promoters
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Value Spotlight (Andrew Sather)
ROIC to measure Capital Allocation?
Why you should be careful (Tutorial) https://t.co/qf7DRFvCt7
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Ahmad Jivraj
Joel Greenblatt returned 40% per year for 20 years...
Here's is how he evaluates cash on the balance sheet
Let's assume a company has $5/share in cash on it's balance sheet. https://t.co/UFvoZYCi8r
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Hidden Value Gems
Quote of the day #104 https://t.co/GtDffzmFhf
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Librarian Capital
At soon-to-be-private Hargreaves Lansdown $HL, interest income ("Cash") has been their largest revenue line for two years in a row
HL business model is arguably sticky with mutual funds, ISAs, older & richer customers etc. https://t.co/sfGO7eQ8Rs
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Stock Analysis Compilation
Clearbridge on Fujitsu $6702 JP
Thesis: Fujitsu’s push towards digitizing Japan’s economy and its shareholder-friendly initiatives position it for strong future profitability.
(Extract from their Q2 letter) https://t.co/8RIbLCjtF8
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Hidden Value Gems
Interesting analysis: Price hikes was the key driver for like-for-like growth at Luxury Goods post COVID.
But now high prices have become a headwind with many brands introducing cheaper products, driving average price down.
"Q2 saw a 3% decline in the average selling price of luxury products and a 6% decline in the price of handbags, according to Bernstein."
"Not all brands will be equally affected. Hermès, which combined restraint with desirability, managed to push through an 8 to 9% increase in the first two months of the year."
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Librarian Capital
Spirax $SPX has grown EBIT more than Rightmove $RMV over the past 8 years, though ~½ the difference materialized in 2016 when GBP fell (after EU referendum), and the gap will narrow further in 2024
(We hold both, with more SPX than RMV) https://t.co/CFEniuqA93
Rightmove $RMV vs. Spirax $SPX: Which company's products are more mission-critical to customers?
- Rightmove
- Spirax
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Capital Employed
Q3 2024 Fund Letters Round-up has just been published to subscribers. ✍️
More letters to be added as they come.
Some great performances this year.
https://t.co/z8VTurKKQI https://t.co/evmO9KsQE3
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Ahmad Jivraj
Interesting strategy
Finding Beaten Down Multibaggers
This is the screen I've used to find some big winners in the past. From 2009 to 2021 I had ~80% CAGR using this in part to find big winners.
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Librarian Capital
"You should never buy any company that makes anything out of metal"
- Leonard Licht (former vice chair, Mercury AM)
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Librarian Capital
Kansas City, Missouri, proposing to ban all flavored nicotine products (vapes, pouches, etc.)
Missouri not among the states listed by $BATS as having passed "directory" laws against illicit vapes
Ban on flavored vapes and laws against illicits continue to have little overlap https://t.co/29zAyX92t4
KANSAS CITY, MISSOURI:
Total ban on flavored vapes, Zyn / pouches, and all other nicotine and tobacco products to be heard in city committee tomorrow.
Zoom testimony allowed.
https://t.co/rBX09dKgo9
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Stock Analysis Compilation
Clearbridge on Parex $PXT CN
Thesis: Parex’s stable free cash flow, shareholder returns, and exploration success make it a solid energy play with upside from future production growth
(Extract from their Q2 letter) https://t.co/xxY6W5NHqq
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Investing visuals
Palantir $PLTR is on track to becoming a $100 billion company 🔥
But with sky-high expectations and a stretched valuation, the question is: can $PLTR live up to it? What do you think?👇 https://t.co/8uKuZU6D03
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Quiver Quantitative
WTF.
We recently posted this report on a suspicious purchase of Arcadium Lithium stock by a US Senator.
It was just announced that another mining company is in talks to acquire Arcadium.
The stock has skyrocketed, up 30% this morning. https://t.co/WoZ050yfQa
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Quiver Quantitative
🚨 BREAKING: Marjorie Taylor Greene just disclosed up to $120K of new stock purchases.
Purchases include:
- Applied Materials, $AMAT
- ASML Holdings, $ASML
- Lam Research, $LRCX
- Dell
- JP Morgan
- Costco
Full trade list up on the Quiver site. https://t.co/aXOnMbVo3d
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Dimitry Nakhla | Babylon Capital®
7 Quality Stocks Trading <peg 2.25* 💵
🖨️ asml holding $asml (2.19x)
✈️ booking holdings $bkng (2.03x)
🤖 nvidia $nvda (1.78x)
💸 paypal $pypl (1.71x)
📸 meta platforms $meta (1.68x)
🩻 elevance health $elv (1.42x)
🖱️ alphabet $goog (1.32x)
#stocks #investing
*finviz
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Startup Archive
Twitter founder Jack Dorsey on the 12 habits that will make you a better leader
Jack reads the following from The Score Takes Care of Itself by former 49ers coach Bill Walsh:
1. Be yourself. “You must be the best version of yourself that you can be... If you’re faking it, you’ll be found out.”
2. Be committed to excellence. “At all times, in all ways, your focus must be on doing things at the highest possible level.”
3. Be positive. “There is a constructive place for censure and highlighting negative aspects of a situation, but too often it is done simply to vent and creates a barrier between you and others.”
4. Be prepared. “Good luck is a product of good planning.”
5. Be detail-oriented. “Organizational excellence evolves from the perfection of details relevant to performance and production.”
6. Be organized. “You must think clearly with a disciplined mind, especially in regard to the most efficient and productive use of time and resources.”
7. Be accountable. “Excuse making is contagious. Answerability starts with you. If you make excuses so will those around you.”
8. Be near-sighted and far-sighted. “Keep everything in perspective while simultaneously concentrating fully on the task at hand… All efforts and plans should be considered not only in terms of short-run effect, but also in terms of how they impact the organization long term.”
9. Be fair. “I believe your value system is as important to success as your expertise… Be clear in your own mind as to what you stand for. And then stand up for it.”
10. Be firm. “I would not budge one inch on my core values, standards, and principles.”
11. Be flexible. “Consistency is crucial, but you must be quick to adjust to new challenges that defy the old solutions.”
12. Believe in yourself. “To a large degree, a leader must ‘sell’ himself to the team. This is impossible unless you exhibit self-confidence.”
13. Be a leader (bonus). “You must know where you’re going and how you intend to get there... You must be able to inspire and motivate through teaching people how to execute their jobs at the highest level. You must care about people and help those people care about one another and the team’s goals. And you must never second-guess yourself on decisions you make with integrity, intelligence, and a team-first attitude.”
Jack also walks through the 10 things leaders SHOULD NOT do:
1. Exhibit patience, paralyzing patience.
2. Engage in delegating—massive delegating—or conversely, engage in too little delegating.
3. Act in a tedious, overly cautious manner.
4. Become best buddies with certain employees.
5. Spend excessive amounts of time socializing with superiors or subordinates.
6. Fail to continue hard-nosed performance evaluations of longtime—”tenured”—staff members, the ones most likely to go on cruise control, to relax.
7. Fail to actively participate in efforts to appraise and acquire new hires.
8. Trust others to carry out your fundamental duties.
9. Find ways to get out from under the responsibilities of your position, to move accountability from yourself to others—the blame game.
10. Promote an organizational environment that is comfortable and laid-back in the misbelief that the workplace should be fun, lighthearted, and free from appropriate levels of tension and urgency.
And lastly, he shares six points from how General Patton ran his army during World War I:
1. Remember that praise is more valuable than blame
2. Use every means before and after combat to tell troops what they’re going to do and what they have done
3. Discipline is based on pride in the profession of arms, on meticulous attention to details, and on mutual respect and confidence
4. Officers must assert themselves by example and by voice
5. General officers must be seen in the front line during action
6. There’s a tendency for the chain of command to overload junior officers by excessive requirements in the way of training and reports
Video source: @ycombinator (2013)
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Stock Analysis Compilation
Bonhoeffer Fund on Vistry $VTY LN
Thesis: Vistry’s partnership model and strong operational growth make it an attractive homebuilder with significant upside potential
(Extract from their Q2 letter) https://t.co/3DQBhiBFaW
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Librarian Capital
"US weighs Google break-up in landmark antitrust case" (WSJ)
"Potential remedy set out by DoJ on Tue"
"Shares of $GOOG were little changed"
"Final witness lists to be filed by 20-Dec"
Judge aims to hand down decision by Aug-25
US weighs Google break-up in landmark antitrust case https://t.co/MiGvPSCTPY
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Capital Employed
Interesting idea from @RohanSoor on Boat Rocker Media $TSX.BRMI
Trades below net cash with valuable B/S assets despite historical profitability, a lower-risk content strategy going forward, and potential buybacks.
Full write-up here 👇
https://t.co/jXeHNDvac9
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Hidden Value Gems
What do you think about Vistry?
$VTY.L
- A one-off, buy
- A serious issue, sell
- Not involved
- Still doing work
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Capital Employed
Interesting read from Seraya Investment letter.
'The great China rally of late September – still underway – may well become one of the great ‘positioning unwinds’ of the decade.'
https://t.co/2asJO9a2Qh?
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Capital Employed
International valuations... 🌎
South America and Hong Kong/China still looking cheap.
Everywhere else getting more expensive.
India/US the most expensive. https://t.co/ImmT8ATXwB
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Librarian Capital
Rightmove $RMV vs. Spirax $SPX: Which company's products are more mission-critical to customers?
- Rightmove
- Spirax
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Librarian Capital
Spirax $SPX P&L resilience through downturns
Revenue and Adjusted EBIT rose in £ every year in 2001-10, even through the Global Financial Crisis
(Ex-FX, revenue fell 7% and Adj. EBIT fell 12% in 2009) https://t.co/d5olzXQmg7
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Quiver Quantitative
We tracked over $7 billion in stock purchases by corporate insiders over the last quarter.
We trained a bot on top of this data, making trading decisions based on the amount and type of insider purchases at each company.
It's been beating the market: https://t.co/kicTGCieLt
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Stock Analysis Compilation
Artisan Partners on Oracle $ORCL US
Thesis: Oracle’s cloud infrastructure growth, driven by strong AI demand, positions it as a top player in enterprise software, with significant future upside.
(Extract from their Q2 letter) https://t.co/dmUL6frzkT
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